Further Advance means, in relation to a Loan, any advance of further money to the relevant Borrower following the making of the Initial Advance, which is secured by the same Mortgage as the Initial Advance, excluding the amount of any retention in respect of the Initial Advance;
Further Advance means, in relation to a Mortgage Loan, any advance of further money to the relevant Borrower following the making of the initial advance of monies in respect of such Mortgage Loan (the "INITIAL ADVANCE") which is secured by the same Mortgage as the Initial Advance but does not include the amount of any retention advanced to the relevant Borrower as part of the Initial Advance after completion of the Mortgage and does not include any Re-Draw;
Further Advance or ‘top-up' means an extra amount was borrowed and was integrated with the original loan so that it is a single arrangement, with just one payment made to the lender. The amount at Amount Outstanding on Mortgage should include the extra top- up, and the amount at Amount of Last Mortgage Payment/IntPrPay should be a combined amount without you or the respondent needing to add figures together. Do not count any 'top-up' or 'further advance' at this question if separate payments are made; such separate loans are asked about later.
Examples of Further Advance in a sentence
Further Advances The Servicer must not consent to a request by a Debtor for a Further Advance in respect of a Series Receivable.
The Approved Seller may only provide a Further Advance if the Approved Seller purchases the relevant Housing Loan from the Trustee.
If we do make a Further Advance, it will be secured by the Mortgage Security.
A retransfer of a Mortgage Receivable further to this Clause 5.2 will take place in accordance with Clause 5.4 below on the first following CBC Payment Date falling at least one month after such Further Advance is granted.
The Initial Purchase Price for any Further Advance Receivable will be funded from the Available Principal Funds.
More Definitions of Further Advance
Further Advance means a loan or a further advance to be made to a Borrower under a Mortgage Loan, which is secured by the same Mortgage;
Further Advance means, in relation to a Mortgage Receivable, a New Mortgage Loan or a further advance to the relevant Borrower by the relevant Transferor, whether or not under the same mortgage loan agreement, which is secured by the same Mortgage as also secures such Mortgage Receivable.
Further Advance means “further advance” as that expression is defined in Article 33(4) of the Law, for the avoidance of doubt being of any amount or value, made for any purpose and whether or not contemplated by any party to this Agreement when this Agreement is executed; the “Grantor” includes the successors or (as the case may be) heirs of the person named as the Grantor above;
Further Advance means a discretionary further Loan made by the Counterparty to a Mortgage Borrower as an addition to and on the security of a Mortgage which is on the date of the making of such further Loan included in the Mortgage Pool;
Further Advance means an advance that is –
Further Advance shall have the meaning given to it in Article 33(4) of the Security Law;
Further Advance means a further amount lent to a Borrower under his or her Loan after the Closing Date, which amount is secured by the same Property as the Loan.